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it gives lawmakers a way it avoid a fiscal cliff or fiscal curve. it can end flirtations with fiscal suicide. that the lawrence o'donnell. read my work at wonkblog.com. "the ed show" is up next. >>> good evening, americans. welcome to "the ed show" from new york. republicans say they're laughing at president obama's fiscal cliff offer. i'll show you how they're really crying. this is "the ed show." let's get to work. >> there are no shortage of pens in the white house. and i carry one around for an emergency just in case, waiting for a chance to use it to sign this bill so people's taxes don't go up. >> the adult in the room continues his campaign to cut taxes for the middle class, and john boehner keeps shooting spit balls. >> it was not a serious proposal. >> tonight the latest on the stalemate and the democrats' upper hand. mitch mcconnell gets downright ridiculous with his demands to weaken medicare. one of the architects of obama care dr. zeke emanuel responds tonight. >>> house republicans pass an immigration bill democrats say is divisive and
it gives lawmakers a way it avoid a fiscal cliff or fiscal curve. it can end flirtations with fiscal suicide. that the lawrence o'donnell. read my work at wonkblog.com. "the ed show" is up next. >>> good evening, americans. welcome to "the ed show" from new york. republicans say they're laughing at president obama's fiscal cliff offer. i'll show you how they're really crying. this is "the ed show." let's get to work. >> there are no shortage of pens...
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they are understanding it as we get closer to the fiscal cliff. >> it says a signal to people that the senate passed tax cuts for 98% of americans but they won't do it in the house. that was before the election. and i just holding the ground is going to be important, no question about that. i get a sense the democrats are unified. but going over the cliff, that affects the constituents big time. correct? >> how do you hold that together? >> there's unanimity that july 25th, we passed tax cuts for the 98% to continue this tax policy that they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banki
they are understanding it as we get closer to the fiscal cliff. >> it says a signal to people that the senate passed tax cuts for 98% of americans but they won't do it in the house. that was before the election. and i just holding the ground is going to be important, no question about that. i get a sense the democrats are unified. but going over the cliff, that affects the constituents big time. correct? >> how do you hold that together? >> there's unanimity that july 25th, we...
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going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically,
going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013....
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they have accused the president and you are wasting precious time here to avert the fiscal cliff. was this the intended effect of the president's first offer? >> what we're trying to do is to make it more likely. we come together on a good agreement for the american people that extends tax cuts to the american people. brings our long-term deficits down. tough spending savings is part of that, and invest in things that matter to the american economy, like infrastructure, and getting americans back to work. we think we can do that. we have a good chance, and it's very important. and i think we'll get there, david. >> do you think we'll get a deal by the end of the year? >> i do. because the only thing standing in the way of that is a refusal by republicans to accept that rates have to go up on the wealthiest americans. and i don't really see them doing that. >> the idea that they have signalled something significant for them, which is -- >> what is that? >> putting revenue on the table. >> it's welcome that they are recognizing that revenues are going to have to go up. but they have
they have accused the president and you are wasting precious time here to avert the fiscal cliff. was this the intended effect of the president's first offer? >> what we're trying to do is to make it more likely. we come together on a good agreement for the american people that extends tax cuts to the american people. brings our long-term deficits down. tough spending savings is part of that, and invest in things that matter to the american economy, like infrastructure, and getting...
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cliff? >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> so is it a bluff when the obama administration says they're willing to go off the cliff if a deal is not reached on rates? >> i don't think it's a bluff. if you look at the reality of what happens, all the leverage which i -- right now clearly the white house has. they get more leverage if we go over their cliff. you can argue that would not send a good message to the country, to the world. it would prove that we are dysfunctional and cannot govern, et cetera, et cetera. in terms of dealing with the policy problem, which is you have this massive and growing debt, you have to bring in more revenues. there's multiple ways to do it, but critical ways to raise rates on the top end. it was what the election was about. republicans want to play the game where they think they get something. at the end of the day they lose worse if we go over the cliff. >> that's an
cliff? >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> so is it a bluff when the obama administration says they're willing to go off the cliff if a deal is not reached on rates? >> i don't think it's a bluff. if you look at the reality of what happens, all the leverage which i -- right now clearly the white house has. they get more leverage if we go over their cliff. you can argue that would not...
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go up similar to the photo-op, the fiscal cliff photo-op of yesterday which was the president meeting with the middle class family. now to jobs. we have something of a surprise report. jobs turned out to be up up. the jobless rate is down and the word from the government is that sandy had no substantive effect on the data. here are the numbers. unemployment down to 7.7%. the economy added 146,000 jobs, not great but good. a third of that came from the retail sector. 53,000 jobs added. professional and business services up 43,000. leisure and hospitality up. construction, though, lost 20,000 jobs. we should note that jobs numbers were revise d downward, though, for september and october. in september it was revised from 148,000 gain to 238,000. went from 138,000 to 132,000. this month, the 7.7 is a full point lower than where we were at this time last year. so what are we supposed to make of these numbers and does the november report provide us a real sense of where this recovery is right now? let's bring in the man we like to bring in every month, the chief economist for moody's analy
go up similar to the photo-op, the fiscal cliff photo-op of yesterday which was the president meeting with the middle class family. now to jobs. we have something of a surprise report. jobs turned out to be up up. the jobless rate is down and the word from the government is that sandy had no substantive effect on the data. here are the numbers. unemployment down to 7.7%. the economy added 146,000 jobs, not great but good. a third of that came from the retail sector. 53,000 jobs added....
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if a deal the on the fiscal cliff is not reefed. while negotiations appear to be at a standstill, we know president obama and house speaker john boehner finally spoke by phone yesterday. the first conversation in a week. we don't know what they talked about or how long they spoke, because both men agreed to keep details of the conversation between the two of them. meanti meantime, democrats are digging in heels saying no deem if republicans refuse to let go of tax cuts for the wealthy. >> it's really time for republicans to face reality. i would hope the house of representatives would look closely at what's going on with senators coming out saying please, mr. speaker, do something about protecting the middle class. >>
if a deal the on the fiscal cliff is not reefed. while negotiations appear to be at a standstill, we know president obama and house speaker john boehner finally spoke by phone yesterday. the first conversation in a week. we don't know what they talked about or how long they spoke, because both men agreed to keep details of the conversation between the two of them. meanti meantime, democrats are digging in heels saying no deem if republicans refuse to let go of tax cuts for the wealthy. >>...
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fiscal cliff talks are they a nonstarter? >> i tell you, you listen to everything that is being said publicly. you see the president there. it's clear that the election, yes, is over. but the campaign goes on here. you know, i really believe that there two things that are clear from the white house to republicans. we are still in preliminary stages here, which is the good news, considering they are far apart. number two, the white house clearly feels it has the upper hand. it came with the $1.6 billion in new revenues and that's twice what the president was talking about before the election. republicans, obviously, rejecting it out of hand. we all heard by now republican leader in the senate mitch mcconnell laughed at it. there you see some of the provisions there. $600 billion in savings. some of it from medicare, another 50 billion in spending and new spending on infrastructure and stimulus spending. that's something that republicans aren't going to want to go to. the two sides are far apart. here we are on december 1st, th
fiscal cliff talks are they a nonstarter? >> i tell you, you listen to everything that is being said publicly. you see the president there. it's clear that the election, yes, is over. but the campaign goes on here. you know, i really believe that there two things that are clear from the white house to republicans. we are still in preliminary stages here, which is the good news, considering they are far apart. number two, the white house clearly feels it has the upper hand. it came with...
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here's the democratic and republican opening bids on the fiscal cliff. but the revenue side of the republican proposal just doesn't match up with reality. you can't get $800 billion in revenue from lowering rates and closing loopholes and deductions. can we get on that page? it doesn't come close to adding up, unless you get rid of just about every deduction for the middle class that's out there. is that what this election was about? president obama has been clear about it all along. >> unfortunately, the speaker's proposal right now is still out of balance. you know, he talks, for example, about $800 billion worth of revenues, but he says he's going to do that by lowering rates. and when you look at the math, it doesn't work. >> you see, if we lower these rates, then the job creators will go out there end and all this money to hire a bunch of people, and that's going to contribute more to the tax base. and gosh, we're just going to take care of all of our problems. we have tried this stuff, and it didn't work. when leaders mcconnell and boehner feed the
here's the democratic and republican opening bids on the fiscal cliff. but the revenue side of the republican proposal just doesn't match up with reality. you can't get $800 billion in revenue from lowering rates and closing loopholes and deductions. can we get on that page? it doesn't come close to adding up, unless you get rid of just about every deduction for the middle class that's out there. is that what this election was about? president obama has been clear about it all along. >>...
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rough the biggest aspects of the fiscal cliff is the fact that tax rates are going to go up on all americans. the senate has passed a bill that would give the middle class 98% of the people their tax cut. it is done. it's in a package. it's sitting at our desk. and all that has to happen is for the house to take it up. the only reason they're not taking it up is they want millionaires and billionaires to get their taxes cut, too. and this was a big issue in the campaign, thomas. so why don't we, instead of throwing insults, why don't they just pick up and pass that part as their own republican, tom cole suggested, let's have some good faith here, and we'll hammer out the rest of it. >> so senator, one thing you say about show me the money, if we talk about the lack of structural changes that are out there for entitlements, nbc's first read makes that point about that saying that the white house is sending the message that if republicans want entitlement reform, they're the ones who have to propose it. so is the white house forcing republicans basically to do the dirty work on social safety n
rough the biggest aspects of the fiscal cliff is the fact that tax rates are going to go up on all americans. the senate has passed a bill that would give the middle class 98% of the people their tax cut. it is done. it's in a package. it's sitting at our desk. and all that has to happen is for the house to take it up. the only reason they're not taking it up is they want millionaires and billionaires to get their taxes cut, too. and this was a big issue in the campaign, thomas. so why don't...
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doubt by a margin of 18 points, americans trust the president and democrats to avoid the fiscal cliff over republicans. the same poll gave president obama his highest approval rating in three years, with 53% support. in the next hour and a half, president obama will continue the great reasonableness tour of 2012. visiting a middle class family in northern virginia with the aim of putting more pressure on congress to extend middle income tax cuts. majority leader harry reid did his part for the cause on the senate floor today. >> so it's apparent how this will end. the only question is, when will it end? it's how long will speaker boehner make middle class families wait for relief and how long will he force the financial markets to wait for uncertainty. >> joining the panel now, the sage of capitol hill, the seasonally elegant luke russert. >> thank you so much for having me. >> you get a special intro when you arrive on set a little late. thrilled to have you here, with ongoing deliberation on capitol hill, you are the eyes. >> eyes and ears hopefully. yet i'm here, congress is recess
doubt by a margin of 18 points, americans trust the president and democrats to avoid the fiscal cliff over republicans. the same poll gave president obama his highest approval rating in three years, with 53% support. in the next hour and a half, president obama will continue the great reasonableness tour of 2012. visiting a middle class family in northern virginia with the aim of putting more pressure on congress to extend middle income tax cuts. majority leader harry reid did his part for the...
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the president has asked the american people to put pressure on congress to accept a deal in fiscal cliff negotiations. the white house is pulling out all stops and cranking up the social media campaign. president obama has been encouraging supporters to tweet with the #my2k, explaining what a $2,000 tax increase would mean for them and their families. the white house reports the hash tag has appeared in over 275,000 tweets with twitter seeing more than 18,000 tweets per hour add its peak. the road show coupled with the social media campaign is unprecedented. this is the kind of effort that helped president obama win a second term. now we'll see if his grassroots army can convince republicans to do what's right by the american people. i'm joined tonight by democratic strategist donna gentile-o'donnell and msnbc political analyst and georgetown university professor, michael eric dyson. great to have you with us tonight. >> thank you. >> i just want to go right to this poll. this quinnipiac poll was released today, and it shows the majority of the american people want tax rates to go up for
the president has asked the american people to put pressure on congress to accept a deal in fiscal cliff negotiations. the white house is pulling out all stops and cranking up the social media campaign. president obama has been encouraging supporters to tweet with the #my2k, explaining what a $2,000 tax increase would mean for them and their families. the white house reports the hash tag has appeared in over 275,000 tweets with twitter seeing more than 18,000 tweets per hour add its peak. the...
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would occur after the fiscal cliff deadline. the senate will organize itself at the start of the new year. so boehner's making threats that really have very, very little to do with reality. unfortunately, that seems like a lot of his approaches to this whole fiscal cliff debate. >> john nichols, great to have you with us. >>> there's a lot more coming up in the next half hour of "the ed show." stay with us. >>> we are a country of unlimited opportunity. we want the world's best and brightest to come here. >> house republicans pass an immigration bill. xavier becerra calls divisive and inferior. he's here to explain why, next. >>> the nation's first fast food strike is a historic protest for workers rights. the workers are fighting back and we'll tell you what it's all about. >>> and the white house debuts their first beau obama christmas video. but how does it stack up to barney cam? >> you're going to have to learn about the national parks if you want to be a junior park ranger. >>> welcome back to "the ed show." thanks for wat
would occur after the fiscal cliff deadline. the senate will organize itself at the start of the new year. so boehner's making threats that really have very, very little to do with reality. unfortunately, that seems like a lot of his approaches to this whole fiscal cliff debate. >> john nichols, great to have you with us. >>> there's a lot more coming up in the next half hour of "the ed show." stay with us. >>> we are a country of unlimited opportunity. we want...
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economy. >> an added wrinkle to the fiscal cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt ceiling, period. >> the fiscal cliff talks reached a new low yesterday when, somehow, the new york jets got dragged into it on the senate floor. >> it's not one of my favorite teams, but it's really, really fun to watch, and that's the new york jets. coach ryan, he's got a problem. he has three quarterbacks, sanchez, he's got tim tebow, he's got another guy. he can't decide who their quarterback is going to be. that's the same problem republicans are having. romney's gone, but he's still in the background. we have mcconnell and we have boehner. who is the quarterback, mr. president? who is the quarterback? >>
economy. >> an added wrinkle to the fiscal cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt...
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the fiscal cliff is bad, but not irretrievable. you can go into january and still put the pieces back together. as you know, defaulting on the debt is irretrievable thing. that's the economic equivalent of a nuclear weapon. that is a big dynamite compared to the fiscal cliff crew having said that, as they get to the year end, i think they'll say we'll vote to extend middle class tax cuts. our leverage is greater because it's the nuclear bomb so they can increase their leverage as they move toward a vote. we may end up into january early february negotiating again about a debt ceilingle. >> that would be very hazardous. an economic nuclear deterrent is only effective if you're ready to set it off. i'm not saying there aren't tea party republicans that would be willing to tank the economy on this, but i think republicans really hand if they think they're going to get a lot of leverage out of this debt ceiling. they may think that. but people remember that episode more than a year ago and it really backfired. it backfired. so you'd ha
the fiscal cliff is bad, but not irretrievable. you can go into january and still put the pieces back together. as you know, defaulting on the debt is irretrievable thing. that's the economic equivalent of a nuclear weapon. that is a big dynamite compared to the fiscal cliff crew having said that, as they get to the year end, i think they'll say we'll vote to extend middle class tax cuts. our leverage is greater because it's the nuclear bomb so they can increase their leverage as they move...
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deficit reduction. >> after the president's remarks, i spoke with his main man on the fiscal cliff, treasury secretary tim geithner. >> let me ask you, the reaction to your going up on the hill and saying this is basically the white house position has been -- mitch mcconnell saying i think it was just demeaning for them to ask the treasury secretary to come up here and give a proposal like this and by this we have people saying it's a sham, it's -- you know, ridiculous, it's a nonstarter. when you went up there, you didn't think republicans were going to go "good idea." >> you know, what we're trying to do is get these guys to come together and reach an agreement that's going to be good for the country and good for the economy. >> by these guys you mean you all and the republicans. >> and democrats together. >> and the white house. >> that's what we're trying to do. what we did was put forward a very comprehensive, very carefully designed mix of savings and tax reforms to help us put us back on the path to stabilizing our debt and fixing our debt and living within our means. we've been very
deficit reduction. >> after the president's remarks, i spoke with his main man on the fiscal cliff, treasury secretary tim geithner. >> let me ask you, the reaction to your going up on the hill and saying this is basically the white house position has been -- mitch mcconnell saying i think it was just demeaning for them to ask the treasury secretary to come up here and give a proposal like this and by this we have people saying it's a sham, it's -- you know, ridiculous, it's a...
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a big difference between this fiscal cliff and the full faith and credit of the united states. the american government has never defaulted on its debt. and now there are some, not the majority of republicans but some on the extreme of the republican party and they seem to be in control, who seem to want to default on our debt. that's crazy. if they cannot be entrusted with the full faith and credit of the united states, they should not have that leverage. >> paul, where were the overtures though? where were the overtures with this deal that was presented? i mean, listen, you don't have to be mensa to know delivering a deal like that was going to make mitch mcconnell laugh. where were the overtures for the democrats? >> first of all, it is an overture, the deal itself. the proposal. it's not the deal, it's the proposal. the republicans have not come with a counterproposal. why? they seem to be intent on falling on their sword for the 2% of the wealthiest americans, many of whom themselves are happy to pay a slightly higher rate the way we did when president clinton was president
a big difference between this fiscal cliff and the full faith and credit of the united states. the american government has never defaulted on its debt. and now there are some, not the majority of republicans but some on the extreme of the republican party and they seem to be in control, who seem to want to default on our debt. that's crazy. if they cannot be entrusted with the full faith and credit of the united states, they should not have that leverage. >> paul, where were the overtures...
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in our next hour, president obama takes his fiscal cliff campaign to pennsylvania. the president says allowing taxes to rise on the middle class would be, quote, scrooge christmas for millions of americans. >>> plus we're following developing news from the supreme court. waiting to hear if the high court decides to take up several new challenges to same-sex marriage. a live report on that coming up next on news nation. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ is a thrilling, dual-flavored ride to mouth fun-town. but it's not like everyone is going to break into a karaoke jam session. ♪ this will literally probably never happen. with his wife, danielle, almost every weekend. derrell hasn't been able to visit his mom back east in a l
in our next hour, president obama takes his fiscal cliff campaign to pennsylvania. the president says allowing taxes to rise on the middle class would be, quote, scrooge christmas for millions of americans. >>> plus we're following developing news from the supreme court. waiting to hear if the high court decides to take up several new challenges to same-sex marriage. a live report on that coming up next on news nation. [ male announcer ] citi turns 200 this year. in that time there've...
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solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. for the country and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, a couple things. first, on the issue of tax rate, are you willing to accept no deal that includes some increase in those top tax rates? i'm also wondering what are final deadline on this is? how much longer can this back and forth go? when do we have to have a deal -- >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table. revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy. pure and simple. secondly, the american people expect us to find common ground, to work together and to resolve this. frankly, sooner is better than later. >> you've been doing this for a long ti
solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. for the country and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, a couple things. first, on the issue of tax rate, are you willing to accept no deal that includes some increase in those top tax rates? i'm also wondering what are final deadline on this is? how much longer can...
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treasury secretary timothy geithner, president obama's point man in these fiscal cliff negotiations, ran the gauntlet this morning. he appeared on all five sunday talk shows, including "meet the press" of course, what else did he say? >> craig, you know if we're in the posturing stage and a lot of people think we're still in the posturing stage with, 29 or 30 days to go. we better hope that they're just posturing, because after the period of optimism, the post-election talk of compromise, you remember john boehner came out the day after the election, the president spoke about compromise as well. they're as far apart as they ever have been and the clock is ticking. what timothy geithner said is as follows, nothing is going to get done unless republicans agree to raise rates on the wealthiest 2% of americans we know the figure by now. those couples filing jointly making more than $250,000. the rates must rise, not a matter of closing loopholes or deductions or simplifying the tax code this is the way it has to be to meet their revenue goals. contrary to what mitch mcconnell and john bo
treasury secretary timothy geithner, president obama's point man in these fiscal cliff negotiations, ran the gauntlet this morning. he appeared on all five sunday talk shows, including "meet the press" of course, what else did he say? >> craig, you know if we're in the posturing stage and a lot of people think we're still in the posturing stage with, 29 or 30 days to go. we better hope that they're just posturing, because after the period of optimism, the post-election talk of...
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>> how i feel, i'm 100% confident we'll resolve the fiscal cliff pretty much a day or two before christmas. what is happening now the public posturing that has to happen in a negotiation so that each side can make their base happy as people move to the middle. once they get behind closed doors and recognize that they have enough good ideas on the table, they'll pick the best ones of those and meet somewhere in the middle to get us somewhere between where the president started and where the republicans would like to end up. i think that's what the american people want. i think what the president has tried to do is make sure that the american people understand what the impact will be if we don't reach a solution and, therefore, he's using that outside end strategy which he didn't use last time, which i'm glad he's using this time. >> we should note here for our viewers that you are a campaign contributor. you donated to the obama campaign. before we get out of here, i want your thoughts that the president is anti-business. a label that he has had to wear for some time now. what do you make o
>> how i feel, i'm 100% confident we'll resolve the fiscal cliff pretty much a day or two before christmas. what is happening now the public posturing that has to happen in a negotiation so that each side can make their base happy as people move to the middle. once they get behind closed doors and recognize that they have enough good ideas on the table, they'll pick the best ones of those and meet somewhere in the middle to get us somewhere between where the president started and where...
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Nov 29, 2012
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the deadline for the fiscal cliff is drawing near. you have to imagine that that was a large part of romney's discussions today both with president obama and with ryan. >> kristen welker at the white house, thanks so much. >>> we take you back on capitol hill where congressional leaders put much of their energy on the ongoing fiscal cliff negotiations. oklahoma representative tom cole who broke ranks with republicans by embracing president obama's plan to raise taxes on the wealthy stuck to his guns this morning. >> if we can give the american people an early christmas present, if they can listen to the debate instead of be worried that their own taxes are going to go up, i think that actually strengthens our hand. i haven't changed my mind. i'm not going to come out here and be disingenuous to people. i think it would be a step in the right direction. >> today john boehner expressed disappointment at where the negotiations stand. as our first read team points out, by siding with the white house tom cole may be helping boehner get the
the deadline for the fiscal cliff is drawing near. you have to imagine that that was a large part of romney's discussions today both with president obama and with ryan. >> kristen welker at the white house, thanks so much. >>> we take you back on capitol hill where congressional leaders put much of their energy on the ongoing fiscal cliff negotiations. oklahoma representative tom cole who broke ranks with republicans by embracing president obama's plan to raise taxes on the...
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cliff, is there a way to avoid falling over it? joining me live from los angeles, democratic congresswoman maxine waters. congresswoman, always a pleasure to see you. >> hello, how are you? >> tim geithner saying today the administration would deal with social security at a later date. are democrats serious about entitlement reform? >> no, democrats are not furious, except we understand and will insist that social security and medicare not be on the table at all. the president has presented a credible proposal on both taxes and spending, and he did offer up $400 billion in discretionary spending cuts. so, in addition to the $1.6 trillion that we're insisting on in eliminating or allowing the tax cuts for the richest people in this country to sunset, we are offering up tax cuts also. >> you just said social security and medicare off the table. >> that's right. >> for democrats. >> that's right. that's what i think. that's what progressives think. >> most folks, not discounting -- not discounting the progressive wing of your party, m
cliff, is there a way to avoid falling over it? joining me live from los angeles, democratic congresswoman maxine waters. congresswoman, always a pleasure to see you. >> hello, how are you? >> tim geithner saying today the administration would deal with social security at a later date. are democrats serious about entitlement reform? >> no, democrats are not furious, except we understand and will insist that social security and medicare not be on the table at all. the president...
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and then on everybody else. >> reporter: but the president says the so-called fiscal cliff is a solvable problem. critical as the holidays approach and businesses make investment and hiring decisions for next year. while polls show many americans are pessimistic, there's optimism in this home. >> i got a sense that he's confident that what's best for the american people will happen. >> yeah. >> reporter: you agree? >> yes. >> i do too. >> reporter: but for now, the gop's resisting any tax increases even on those upper income americans. house republicans of course have made the counteroffer with $800 billion in new revenue and an overhaul of the tax code. wolf, they feel as if they have moved the ball, but they don't believe that the president is interested in avoiding the fiscal cliff. >> these negotiations, dan, they usually go until the bitter, bitter end. a lot of folks are assuming that before that end there will be a deal. give us a flavor of the mood at the white house. >> reporter: well, i think they're preparing for this fiscal cliff scenario to play out, wolf. but as you point o
and then on everybody else. >> reporter: but the president says the so-called fiscal cliff is a solvable problem. critical as the holidays approach and businesses make investment and hiring decisions for next year. while polls show many americans are pessimistic, there's optimism in this home. >> i got a sense that he's confident that what's best for the american people will happen. >> yeah. >> reporter: you agree? >> yes. >> i do too. >> reporter: but...
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our fiscal cliff-mas gift today alan smith gets down gangnam style. what the senator is saying about the video that's gone viral watching the daily rundown only on msnbc. u see this? oh, let me guess -- more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. restore revive rejuvenate rebuild rebuild rebuild when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as
our fiscal cliff-mas gift today alan smith gets down gangnam style. what the senator is saying about the video that's gone viral watching the daily rundown only on msnbc. u see this? oh, let me guess -- more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills....
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Nov 30, 2012
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. >>> up next the senate's top republican latches out loud as the white house averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it i
. >>> up next the senate's top republican latches out loud as the white house averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference....
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Nov 30, 2012
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cliff, that difference between tax rates for the wealthiest americans. and what house democrats announced they're going to try to do is an end run around the house gop to try to file a petition in order to try to push a vote on the house floor to just raise taxes -- excuse me, to just extend the bush-era tax rates for middle class americans. but to do that, as you know, they need 218 votes and there's still a very sizable republican majority in the house. it will be difficult for democrats to do that. >> absolutely. and that proposal to take away what has been historically a congressional prerogative was a little bit surprising even to people who have been reading about this stuff for years. is it true though, dana, as it has been in past years that both sides at least have to show their bases that they're fighting the good fight and that's part of what's going on here? >> reporter: absolutely. there's no question about it. what i mention in the piece really is a real phenomenon here when it comes to the feeling among congressional democrats that they ar
cliff, that difference between tax rates for the wealthiest americans. and what house democrats announced they're going to try to do is an end run around the house gop to try to file a petition in order to try to push a vote on the house floor to just raise taxes -- excuse me, to just extend the bush-era tax rates for middle class americans. but to do that, as you know, they need 218 votes and there's still a very sizable republican majority in the house. it will be difficult for democrats to...
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. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never been as connected in the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. >> negative consequences, seismic or not, none is stopping starbucks plans for 1,500 more cafes across america next year. and just as many around the world. but we get his point. >>> speaking of the fiscal cliff, we know what the parameters of a deal in congress will look like, right? on taxes, republicans give in to raise taxes on the wealthiest 2% and democrats will agree to rein in tax breaks, right? democrats are fighting hard to preserve the tax deduction for st
. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never...
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>> let's hope we don't go over the fiscal cliff. jessi jessica, thank you. >>> as things stand right now, republicans want to keep all the bush tax cuts, but raise $800 billion by limiting some tax deductions, loopholes, et cetera. they also want to save will the $600 billion by cutting health care spending. the president says the republicans' proposal doesn't work because of the math. he wants to raise $1.6 trillion in taxes, twice as much as the republicans. and he wants to do it mostly by increasing tax rates on the top earners and proposes to cut health care spending by $350 billion. i'm joined by gloria borger. where do we stand on the expiration of the bush era tax cut? >> we are where we are, and what was interesting to me in listening and reading the transcript of that bloomberg interview today with the president, sometimes you have to listen to what the president did not say. of course, he wants the tax rates on the wealthy to go up. did he specify the 39.6% rate of the clinton years? he did not. so is there a little give u
>> let's hope we don't go over the fiscal cliff. jessi jessica, thank you. >>> as things stand right now, republicans want to keep all the bush tax cuts, but raise $800 billion by limiting some tax deductions, loopholes, et cetera. they also want to save will the $600 billion by cutting health care spending. the president says the republicans' proposal doesn't work because of the math. he wants to raise $1.6 trillion in taxes, twice as much as the republicans. and he wants to do...